British Columbians are among those who lose the most money on average to scams.
A just-published study suggests that victims in B.C. lose an average of about $3,000 – a similar sum to what’s seen in Ontario and Alberta.
According to the study from Social Catfish, which used data from the Canadian Anti-Fraud Centre collected over the last five years, B.C. victims lose the third-most amount of money on average.
That average, the group said, is $2,916.67, down slightly from the $3,010.21 Ontarians lose, and from $2,970.30 in Alberta.
The province or territory where victims have lost the least amount of money is Prince Edward Island, where the average is $554.14.
The study did not suggest that means residents of those provinces are more or less tech-savvy, and when it comes to reported complaints, B.C. was sixth.
According to Social Catfish, the rate of CAFC complaints in B.C. is 249 per 100,000 residents. Manitoba actually had the highest rate of reported scam victims, followed by Ontario and Yukon.
(Social Catfish)
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As for how fraudsters are tricking their victims, the most common scam in Canada involves investment. Canadians lost a whopping $165 million between 2017 and 2021 to opportunities billed as once-in-a-lifetime, can’t-miss deals.
These scams are often sent by email or social media, and promise a high rate of return for little risk. The would-be investor transfers money, then never sees it again.
Often these scams involve…
